AstraZeneca stock price forecast: Nasdaq reshuffle weighs as AZN trades lower

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AstraZeneca slides 0.83% to GBX 14,155

Highlights

AstraZeneca has been officially removed from the Nasdaq-100 Index, effective January 20, with Walmart Inc. replacing it.
The removal of AstraZeneca from the Nasdaq-100 may trigger portfolio rebalancing among funds and ETFs tracking the index, which manage significant assets.
Laura Colón has been appointed president of AstraZeneca Spain, marking a leadership transition in a strategically important market.

Index removal and leadership change as funds adjust AZN exposure

AstraZeneca has been officially removed from the Nasdaq-100 Index, as effective January 20, with Walmart Inc. set to take its place. This index change could affect the composition of funds and ETFs tracking the Nasdaq-100, many of which manage substantial assets. Additionally, Laura Colón has been appointed as the new president of AstraZeneca Spain, highlighting a leadership transition in a key market.

Overbought signals and oscillator divergence as upward trend persists

Momentum indicators on the D1 chart remain positive: both MACD and ADX suggest that buyers are in control. However, the RSI is elevated, and both the Stochastic RSI and CCI are reading overbought, while Bull/Bear Power continues to reflect strong buyer activity. The Awesome Oscillator remains bullish, supporting the prevailing trend. While upward momentum is intact, oscillator divergence and overbought signals prompt short-term caution as the risk of a pullback rises. Today, AZN opened with a small gap down and is currently trading mid-range within a moderate volatility session.

Upside scenario favored as breakout risk outweighs downside threats

For the next five trading days, AZN is expected to fluctuate within a typical volatility band of GBX 14,160 to GBX 15,775. Based on robust signals from the RSI, ADX, MACD, and Moving Averages on the weekly timeframe, there is a high likelihood (over 80%) of continued upward movement. The base expectation is for consolidation above GBX 14,150, while a bullish breakout above GBX 14,376 (Ichimoku Kijun) could open further upside toward GBX 15,775. Downside risk remains limited unless the price sustains a move below the MA-50 (GBX 13,525), which would suggest a lower-probability bearish scenario.

Anton Kharitonov, expert at Traders Union, sees AstraZeneca trading with strong upside momentum across timeframes, but he notes the presence of overbought signals and recent news flow around its removal from the Nasdaq-100 Index. The analyst believes consolidation above GBX 14,150 is the probable scenario, with technical signals supporting further gains unless the price drops below the MA-50. He remains defensive in the near term due to stretched oscillators and event risk. "Base case remains for holding above GBX 14,150, but I would turn cautious if price closes below GBX 13,525 this week."

Previously it was reported that AstraZeneca PLC remains in a strong uptrend, trading well above its key moving averages and supported by bullish momentum indicators such as MACD and ADX, with immediate support seen near the MA-20 and resistance near recent highs. However, overbought signals from RSI and CCI suggest that while buyers retain control, the stock may face resistance and short-term consolidation before any further upside.

Source of Data: AZN Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.